Regulatory Alerts2022-07-13
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Instructions for Fulfilling the Annual Fee for Exchange Companies No. (8/2022)
The Central Bank of Jordan mandates that exchange companies pay their annual license fee by the end of April each year, with a specific deadline of July 2022 for the current year. Fees for new licenses or branches are prorated from the month following approval, while no refunds are issued for cancelled licenses. Companies may pay via cash at the Central Bank, bank transfers, or the E-Fawateercom electronic system, with non-payment triggering enforcement measures under the Exchange Companies Licensing Law No. (39) of 2021.
No: 9/2/1667 Corresponding to: 4/8/1443 AH Date: 4/7/2022 AD
Instructions for Fulfilling the Annual Fee for Exchange Companies No. (8/2022)
Greetings,
Based on the provisions of Article (14/c) of the Exchange Companies Licensing Law No. (39) of 2021 and its amendments, I have decided that the instructions for fulfilling the annual fee for exchange companies shall be as follows:-
Article (1): - These instructions are named "Instructions for Fulfilling the Annual Fee for Exchange Companies" and shall be effective from their date.
Article (2): - a- The definitions contained in the prevailing Exchange Companies Law shall be adopted wherever mentioned in these instructions, unless the context indicates otherwise. b- The term "The Law" wherever mentioned in these instructions refers to the Exchange Companies Licensing Law No. (39) of 2021 and its amendments.
Article (3): - The company is obliged to pay the annual fee stipulated in Article (14) of the Law before the end of the month of April of each year.
P.O. Box 37, Amman 11118 - Jordan Phone 9/4630301 * Fax 4638889, 4639730 Website www.cbj.gov.jo Email info@cbj.gov.jo
Article (4): - The company shall be liable for an annual fee for the year in which final approval for its license or the license of a new branch was granted, at a rate commensurate with the period from the beginning of the month following the date of final licensing until the end of that year.
Article (5): - The annual fee paid by the company for the year in which the company's license is cancelled shall not be refunded.
Article (6): - If the company does not pay the annual fee within the period specified in Article (3) of these instructions, necessary measures shall be taken against the company in accordance with the provisions of the Exchange Companies Law and the prevailing Law for the Collection of Public Funds.
Article (7): -
- The company may pay the due annual fee through any of the following methods:- a) Cash in the payment boxes of the Central Bank. b) Money transfers through licensed banks to the account designated by the Central Bank for this purpose. c) Electronic payment through various payment channels of the electronic invoice display and collection system (E-Fawateercom).
I also inform you that the deadline for companies to pay the annual fee for the current year is by the end of July/2022, in accordance with the mechanism outlined in the above instructions.
Please accept my highest regards,
The Governor Dr. Adel Al-Sharkas
P.O. Box 37, Amman 11118 - Jordan Phone 9/4630301 * Fax 4638889, 4639730 Website www.cbj.gov.jo Email info@cbj.gov.jo